FDI inflow to Vietnam falls 23.6% in first two months to $6.47 billion

As of February 20, the country attracted 500 new projects with total registered capital of $5 billion, a two-fold increase in capital year-on-year, while 151 existing projects have been injected an additional $638.1 million, down 25.4% in volume.  

The report showed that foreign direct investment disbursement fell by 5% to $2.45 billion during the reviewed period.

Among 48 cities and provinces having received FDI in the two-month period, Bac Lieu ranked first, followed by Tay Ninh, Ho Chi Minh City, Ha Noi, Dong Nai and Binh Duong.

The local authorities of Bac Lieu granted an investment certificate to Singapore’s Delta Offshore Energy Pte Ltd Co to develop a US$4 billion LNG-fired thermal power plant in the province last month, making it the top recipient of FDI in the first two months this year.

The project, covering 40ha in Vinh Hau A Commune, Hoa Binh District, is the biggest foreign-invested project in the Cuu Long (Mekong) Delta region thus far.

The first two months also saw Singapore was the biggest investor in Viet Nam with $4.12 billion. China came second with $720.4 million, while the third place belonged to South Korea with $425.4 million.

The foreign sector’s export revenues, including oil, reached $25.51 billion, up by 0.9% compared with the same period of 2019.

Without oil revenue, exports by the foreign-invested enterprises were $25.06 billion, up by 0.5%, the lowest increase in the past five years.

As of February 20, there were 31,345 active FDI projects in Viet Nam with total registered capital of $369.4 billion, of which $214.23 billion has been disbursed.

Source: VGP